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BoC Opens the Door to Rate Hikes: What It Means for Your Mortgage

  Published September 4, 2026 The Bank of Canada held its policy rate at 2.25% on September 2 — the seventh straight hold — but Governor Tiff Macklem didn't sound like a central banker done for the year. He told reporters the Bank is "prepared to raise interest rates, and if it takes more than one increase, we're prepared to do that," if inflation stays too high. That's a real shift in tone, and it lands right as a wave of Canadians hit their mortgage renewal date. Here's what changed, who's forecasting what, and what it actually means for your payment. Why the Bank Suddenly Sounds Hawkish Canada's annual inflation rate has climbed to around 3% — a full point above the Bank's 2% target — and the Bank is pointing squarely at energy prices. Oil has stayed elevated because of the Iran conflict and disruption near the Strait of Hormuz, pushing gas prices up and dragging headline CPI with it. Core inflation, which strips out food and energy, is still s...
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Gaza Reels Under Fire as Ceasefire Hopes Flicker in Washington

As diplomatic efforts to end the prolonged conflict in Gaza resumed in Washington, residents of northern Gaza endured one of the most intense nights of bombardment in recent weeks. Israeli airstrikes and tank shelling targeted multiple areas, including the Zeitoun suburb of Gaza City, where at least 10 people were killed. In total, Monday’s strikes claimed the lives of at least 25 Palestinians, according to local health authorities.

The Israeli military issued mass evacuation orders ahead of the strikes, prompting hundreds of families to flee shelters, including several UNRWA schools that were later hit by airstrikes. Residents described the night as relentless, with explosions shaking buildings and leaving widespread destruction.

Meanwhile, Israeli officials arrived in Washington for renewed ceasefire talks, with Strategic Affairs Minister Ron Dermer expected to meet with U.S. officials. President Trump has publicly urged both sides to reach a deal and secure the release of hostages still held in Gaza.

Despite the diplomatic push, there was little sign of de-escalation on the ground. Mediators from Qatar and Egypt have reportedly intensified efforts behind the scenes, though no new round of formal talks has been scheduled.

The contrast between the violence in Gaza and the negotiations in Washington underscores the fragile and complex path toward peace.

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